"Metacognition is the state where one is conscious of one's thinking and problem solving whilst thinking ."(Cohen 1994).
That is only one of the many definitions of metacognition that are out there. In educational and psychological circles, it is the process we consciously undergo in order to solve problems proactively.
Metacognition can be divided into 3 main ideas: Developing a plan of action, implementing that plan and then evaluating that plan after the task has been completed.
The benefits of metacognition are vast! It teaches people how to use critical thinking skills, how to apply prior knowledge to current problems, and how to evaluate your problem-solving so that you will know what to do next time a similar problem comes along.